Article 6 5.

the crypto-asset may lose its value in part or in full;

the crypto-asset may not always be transferable;

the crypto-asset may not be liquid;

where the offer to the public concerns a utility token, that utility token may not be exchangeable against the good or service promised in the crypto-asset white paper, especially in the case of a failure or discontinuation of the crypto-asset project;

the crypto-asset is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council ( 9 );

the crypto-asset is not covered by the deposit guarantee schemes under Directive 2014/49/EU.